Ride-hailing firm likely remains a step ahead of rival Uber on timing

Lyft Inc. has filed confidential paperwork for an initial public offering, a key step that keeps the ride-hailing firm on pace to hit the public market early next year.

Lyft’s planned IPO is one of the most anticipated Silicon Valley debuts in recent years. The filing, which was expected, would suggest Lyft remains a step ahead of rival Uber Technologies Inc. as both work toward IPOs in 2019.

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Anthony Tan, CEO of Grab, Uber’s main rival in Southeast Asia, said at WSJ D.Live Asia conference that the Singapore-based ride-hailing company is betting on closer collaboration with taxi firms and innovations such as “chat-bots” to communicate with customers.